The operators of two new pipelines in West Texas shale fields are offering disco...
HOUSTON - The operators of two new pipelines in West Texas shale fields are offering discounted prices to attract shippers accustomed to high fees to move oil to export hubs, according to the pipeline companies and federal filings.
But pipeline companies, which have in the past year raced to add new capacity to flow oil from the Permian Basin to the refining and export hub on U.S. Gulf Coast, will face pressure to cut rates in coming weeks, said oil traders and analysts. “There’s no way another 2.5 million bpd are waiting to get sent to Corpus Christi ,” said Sandy Fielden, an analyst at Morningstar. “Clearly, there’s going to be too much capacity ... There will be buying up of barrels in Midland like it’s going out of style.”
Around the end of 2019, EPIC plans to flow its crude volumes on a larger, permanent line that can carry around 900,000 bpd.
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